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Article: The largest Colombian raw emerald auction in the world


The largest Colombian raw emerald auction in the world

They are more than 240,000 carats of Colombian emeralds in roughs of different quality, clarity and size, with which the largest rough auction ever exhibited in the history of this Colombian industry was held in Bogotá.

For six days, from 14 to 19 June, in the Boyacense lands of Coscuez, the fourth auction of Colombian emeralds extracted from this mine, located in the municipality of San Pablo de Borbur, was held.

Here we will tell you some important details of this event and when the next auction will be held.

Historical uploads of Colombian emeralds

In total there are three outstanding events in which Colombian emeralds have been auctioned:

  1. Emerald auctions of the Christie's Auction House: Christies, a renowned auction house worldwide, has held auctions that included Colombian emeralds. These auctions usually include gorgeous gems and high-quality jewellery.
  2. Emerald auction of the Sotheby's House of Substalls: Like Christies, Sothebys is an internationally recognized auction house that has auctioned off Colombian emeralds. In these auctions, both loose emeralds and jewelry containing them have been auctioned.
  3. International Esmeralda International Fair (International Emerald Fair): This annual event in Bogota, Colombia, is not an auction in itself, but it is a place where high-quality Colombian emeralds are exhibited and sold. The fair involves emerald merchants, jewelry storechildren and collectors from all over the world.

How you participate in an emerald auction

Participation in a Colombian emerald auction may vary depending on the auction house or the specific event. Here are some general steps you can take to participate in an emerald auction:

1. Investigation: Investigate and stay informed about the auctions of Colombian emeralds to be held. You can consult websites of renowned auction houses or events specializing in gems and jewelry for information about dates, locations and auction catalogues.

2. Record: To participate in an auction, you must generally register as a potential buyer. This may involve completing an online or in-person registration form, providing your personal information and contact details. Some auctions may also require a valid identification.

3. Catalogue review: Get the auction catalogue, which contains detailed information about the emeralds and jewelry to be offered. Carefully examine the descriptions, the characteristics of the pieces and the estimated prices.

4. Prior evaluation: If possible, consider prior evaluation of the pieces you are interested in. This may involve visiting a pre-auction exhibition where gems and jewellery are available for examination in person. In some cases, you can also request certification or authentication reports to verify the quality and authenticity of emeralds.

5. Set a budget: Determine what your maximum budget is to participate in the auction. This will help you avoid excessive offers and make sure you're comfortable with the price you're willing to pay.

6. Auction participation: During the auction, you can participate in person, if possible, or remotely via online or telephone platforms, depending on the options provided by the auction house. Listen to the offers and make your own bids if you're interested in a certain emerald or jewel.

7. Award: If your offer is successful and you win the auction, you will be asked to make the corresponding payment according to the auction house policies. Make sure you know the terms and conditions of the auction, including taxes, buyer fees and payment deadlines.

Remember that each auction can have its own specific procedures and requirements. Therefore, it is important to become familiar with the rules of each event and follow the instructions provided by the auction house or the organizer.

Colombian Emerald Conquering International Lands

The international round of the auction will be held in Bangkok, Thailand, from 28 June to 4 July this year. More than 80 clients from Colombia, India, the United States, Israel, China, Hong Kong and Thailand will meet in Bogota and Bangkok to admire more than 240,000 carats of Colombian emeralds.

The entire product will enter a platform based on Proof Blockchain that aims to reveal the route of each gemstone from its raw state to finish, in response to the growing demand for transparency from global luxury brands.

Also, with this unique auction model, in a transparent way, seeks to generate value for the Colombian emerald industry, thus paying all the duties and taxes on the total sales value of the subast.

Paula A. Bonilla 

Social communicator and journalist from Sergio Arboleda University in Colombia. She is also a jeweler and is passionate about constantly learning about precious gems and national high jewelry.

Currently, she is working for one of Bogotá's most important jewelry stores, Emerald by Love. This jewelry store has over 40 years of experience and has 2 physical branches in the capital city of Colombia, located in the city center.

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